What Tracks and Analyzes the Movement of Materials and Products

question 17

Multiple Choice

What tracks and analyzes the movement of materials and products to ensure the delivery of materials and finished goods at the right time, the right place, and the lowest cost?

• A) Inventory management and control software
• B) Global inventory management system
• C) Transportation planning system
• D) Distribution management software

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Definitions:

Opportunity Cost

The expense associated with sacrificing the second-best choice in the decision-making process.

Dentist

A healthcare professional specializing in the diagnosis, prevention, and treatment of diseases and conditions of the oral cavity.

Leisure

Free time available to an individual after commitments to work, school, or other necessary activities, often used for rest, recreation, or other personal activities.

Equilibrium Wage

The wage rate at which the quantity of labor supplied equals the quantity of labor demanded in the market.